Live Oak Bancshares (LOB) CXO awarded 6,586 RSUs, withholds 709 shares
Rhea-AI Filing Summary
Live Oak Bancshares Chief Experience Officer Spencer Courtney reported equity compensation activity. On February 9, 2026, Courtney received a grant of 6,586 restricted stock units, each representing one share of voting common stock, vesting in five equal annual installments beginning February 9, 2027, subject to continued service.
On February 10, 2026, 1,425 RSUs were exercised and converted into 1,425 shares of voting common stock at a stated price of $0, increasing Courtney’s directly held common stock to 26,585 shares before tax withholding. On the same date, 709 shares of voting common stock were disposed of at $41.04 per share to satisfy tax withholding, leaving 25,876 shares of voting common stock held directly and 153.7958 shares held indirectly by a spouse.
Positive
- None.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,425 | $0.00 | -- |
| Exercise | Voting Common Stock | 1,425 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 709 | $41.04 | $29K |
| Grant/Award | Restricted Stock Units | 6,586 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date. 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
